European Stocks Decline as Global Oil Demand Forecasts Are Lowered

LONDON ( The Deal) -- European stocks were bleeding red again on Friday amid flat eurozone industrial production and a lower forecast for global oil demand in 2015.

The rout took its toll on all benchmark indices, with the FTSE 100 down 1.46% at 6,367.66 in London, the CAC 40 sliding 1.46% to 4,164.07 in Paris and the DAX slumping 1.26% to 9,737.97 in Frankfurt.

Investors were in a selling mood after the Eurostat statistical agency said that industrial output in the euro area rose by a paltry 0.1% in October, below the 0.2% predicted in a Bloomberg News survey and following September's 0.5% jump.

Energy stocks including BG Group (BRGYY) in London and Technip in Paris were down after the Paris-baed International Energy Agency trimmed its projection for 2015 world oil demand by 230,000 barrels a day to 0.9 million barrels a day. The agency cited lower expectations for the former Soviet Union and other oil-exporting countries.

A couple of nixed deals also weighed on stocks.

Danone (DANOY) fell 1.95% after announcing that it has decided to hold onto its medical nutrition business, shrugging off indicative offers of about 3 billion euros ($3.7 billion) from the likes of Lake Forest, Ill.-based Hospira (HSP) , and a consortium led by Fresenius of Germany.

And in Milan, energy company Eni (ENI) shed 1.41% after nixing plans to sell its 43% stake in oil and gas service provider Saipem because of volatile markets.

Carlsberg (CABGY) , a Danish brewer which counts on Russia for about a third of its earnings, was down 3.74% at 515 kroner in Copenhagen as the ruble's plunge continued. Carlsberg CEO Jorgen Buhl Rasmussen told journalists in Denmark that he sees no short-term fix to the company's plight, and Danske Bank lowered its recommendation on the stock to hold from sell.

In Frankfurt, Hugo Boss (BOSSY) shares were down slightly on news of a further stake slim-down by Permira Holdings. The luxury fashion house said its former controlling shareholder is plans to sell a further 4.9 million shares, equal to a 7% stake, which will boost the company's free float to around 66%. Permira cut its holding from about 50% to 39% in September.

Gucci owner Kering (PPRUY) was also out of fashion in Paris, falling 1.86% after announcing a management shakeup at the luxury label.

In Frankfurt, investors didn't seem too bothered by a Financial Times report that Commerzbank (CRZBY) , Germany's second-largest lender, will pay more than $1 billion to settle allegations that it broke U.S. sanctions and anti money-laundering laws. After an initial decline, Commerzbank was up 0.31%.

Asian stocks were mixed, with the Hang Seng losing 0.27% to 23,249.20 in Hong Kong and the Nikkei inching up 0.66% to 17,372 in Tokyo ahead of Sunday's election.